Abraham v. Commissioner
United States Tax Court
After the termination of a trust set up by the petitioner for his minor children, he retained the accumulated income during their minority as "guardian" for them as owners, as provided by the trust instrument (the instrument provided that it should "belong to the said children"), with power of direction of investments and reinvestments and to hold and administer the accumulations.
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After the termination of a trust set up by the petitioner for his minor children, he retained the accumulated income during their minority as "guardian" for them as owners, as provided by the trust instrument (the instrument provided that it should "belong to the said children"), with power of direction of investments and reinvestments and to hold and administer the accumulations. At majority the accumulations were to go to the children, and they have been so distributed as to those attaining majority. In case of death of a child before majority, the accumulations were to go to the estate of…
1Opinion of the Court
Herbert Abraham and Dorothy Abraham, Petitioners, v. Commissioner of Internal Revenue, Respondent
Abraham v. Commissioner
Docket No. 1122
United States Tax Court
3 T.C. 991; 1944 U.S. Tax Ct. LEXIS 105;
June 8, 1944, Promulgated
Decision will be entered under Rule 50.
After the termination of a trust set up by the petitioner for his minor children, he retained the accumulated income during their minority as "guardian" for them as owners, as provided by the trust instrument (the instrument provided that it should "belong to the said children"), with power of direction of investments and reinvestments…
2Cases cited1 opinion
- Abraham v. CommissionerUnited States Tax Court · 1944